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IAG today acknowledged the Australian Competition and Consumer Commission (ACCC) has not reached a conclusion and will proceed to the Phase 2 assessment of IAG's proposed alliance with the Royal Automobile Club of Western Australia (RAC) to provide general insurance products and services to RAC members and the wider Western Australian community.
This development is in line with the ACCC's new merger control review process, where the ACCC may commence a more detailed Phase 2 assessment if its initial Phase 1 review identifies potential concerns.
IAG remains confident in its position and will continue to work constructively with the ACCC throughout this process.
The Phase 2 assessment is expected to take up to 90 business days, subject to any extensions.
This release has been authorised by IAG's Continuous Disclosure Committee.
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